Policies created by governments to create a favorable balance of trade in which exports exceeded imports are collectively known as

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Mercantilism is a historical economic theory that believed a country's power and wealth were measured by its ability to export more goods than it imported, securing a favorable balance of trade. To achieve this, governments implemented policies such as tariffs, subsidies, and other forms of protectionism to promote domestic industries and limit imports.

Policies Created by Governments to Create a Favorable Balance of Trade